Within how many days of termination or expiration of the Buona franchise agreement must the franchisee provide proof of notification to suppliers, utilities, and landlords?
Buona Franchise · 2025 FDDAnswer from 2025 FDD Document
- (f) Franchisee shall immediately notify all of its suppliers, utilities, landlords, creditors and others with whom it is doing business that Franchisee is no longer affiliated with the Franchised Business or the System and provide proof to Franchisor of this notification within five (5) days of the termination or expiration of this Agreement;
Source: Item 22 — CONTRACTS (FDD page 78)
What This Means (2025 FDD)
According to Buona's 2025 Franchise Disclosure Document, a franchisee must notify their suppliers, utilities, landlords, creditors, and others they do business with that they are no longer affiliated with Buona. The franchisee must provide proof of this notification to Buona within five days of the termination or expiration of the franchise agreement.
This requirement ensures a clean break between the franchisee and the Buona brand. By promptly notifying relevant parties, the franchisee prevents any confusion about their ongoing affiliation with Buona. This protects Buona's brand reputation and avoids potential liabilities arising from the former franchisee's actions.
For a prospective franchisee, this means being prepared to act quickly and decisively upon termination or expiration. They should have a system in place to efficiently notify all relevant parties and gather proof of notification to submit to Buona within the specified timeframe. Failure to comply with this requirement could result in legal or financial repercussions, as it is a legally binding obligation under the franchise agreement.